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Electronic commerce, commonly known as e-commerce or eCommerce, consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown extraordinarily since the spread of the Internet. A wide variety of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction's lifecycle, although it can encompass a wider range of technologies such as e-mail as well.
Electronic funds transfer or EFT refers to the computer-based systems used to perform financial transactions electronically.
The term is used for a number of different concepts:
• Cardholder-initiated transactions, where a cardholder makes use of a payment card
• Direct deposit payroll payments for a business to its employees, possibly via a payroll services company
• Direct debit payments from customer to business, where the transaction is initiated by the business with customer permission
• Electronic bill payment in online banking, which may be delivered by EFT or paper check
• Transactions involving stored value of electronic money, possibly in a private currency
• Wire transfer via an international banking network (generally carries a higher fee)
• Electronic Benefit Transfer
Internet marketing, also referred to as web marketing, online marketing, or eMarketing, is the marketing of products or services over the Internet.
The Internet has brought many unique benefits to marketing, one of which being lower costs for the distribution of information and media to a global audience. The interactive...